If A forms a customs union with B, A will import ? A. 400 units from B B. 200 units from C C. 200 units from each D. 400 units from B and 200 units from C

The NAFTA is a ? A. monetary union B. free trade area C. common market D. customs union

In free trade A will import ? A. 700 units from country C B. 700 units from country C and 600 units from country BC. 600 units from country C D. 600 units from country C and 400 units from…

Under the Common Agricultural Policy exports of any surplus quantities EU produce are encouraged through the usage of ? A. variable leviesB. export subsidies C. trigger prices D. countertrade

When several countries jointly impose common external tariffs, eliminate tariffs on each other, and eliminate barriers to the movement of labor and capital among themselves, they have formed a/na ? A. free trade area B. customs unionC. common market D.…

The Common Agricultural Policy of the European Union has ? A. increase American farm exports to the EUB. decrease American farm exports to the EU C. lowered the price of American farm exports to the EU D. not affected the…

Which factor of production in the United States is most likely to be made worse off (its factor payment will decrease) because of the North American Free Trade Agreement ? A. Capital B. land C. skilled laborD. unskilled labor

Which country is not a member of the European Union ? A. Spain B. Germany C. FranceD. Iceland

Members of the EU find that trade creation|| is fostered when their economies are ? A. highly competitive B. highly noncompetitive C. small in economic importance D. geographically distant